Government reviving sick industries: PM Dahal

Published On: January 12, 2017 01:20 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Jan 12: Prime Minster Pushpa Kamal Dahal on Wednesday said that the government was working to breathe new life into sick industries.

He also said that the newly endorsed Industrial Enterprises Act will usher in industrial development in the country. Addressing the 66th Annual General Meeting of Nepal Chamber of Commerce (NCC) and the Chamber Day celebration, Dahal said that the new law will contribute to economic development of the country.

PM Dahal also said that the recently endorsed Bank and Financial Institution Act (BAFIA) will bring about improvements in the banking sector. “We are sparing no efforts to decrease load-shedding after the country and to control energy leakage,” he said, adding that reduction in power cuts have helped to increase industrial production.

The prime minister also said that the he was keenly monitoring the implementation of national pride projects. “Economic development is not possible without coordination of government and the private sector,” he added.

Stating that the government was committed to promote export in coordination with the private sector, Dahal said he, in the BIMSTEC and BRICS summits, discussed with leaders of India and China about the possibility of increasing through railways, roadways and airways. “All three countries will be benefited if there is better connectivity,” he added.

Similarly, Rajesh Kaji Shrestha, president of NCC, requested the government to increase export incentive from existing two percent to make Nepali productions more competitive.

“The ban on 1,000 and 500 rupee banknotes by the Indian government has affected trade between Nepal and India. So the government should take needful initiative to exchange 1,000 and 500 rupee banknotes stacked in Nepal,” he said, urging the government to give high priority to international airport projects in Bhairahawa, Pokhara and Nijgadh.

He further added that the government should also work to refine available raw materials, establish international financial service center, and increase petroleum storage capacity from existing 17 days to 90 days. 

Likewise, Pashupati Murarkar, president of the Federation of Nepalese Chamber of Commerce and Industries (FNCCI), said industrialists have breathed a sigh of relief following reduction in load-shedding hours. 

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